June 14, 2007

Fund Fun

Bloomberg has a good story on Robert Rubin's speech at a Washington conference, where he called on Congress to "double tax rates for many hedge fund managers and private equity partners who classify their pay as capital gains."

As TNR noted in a recent editorial, fund managers are now frequently able to classify earnings as capital gains because of a tax loophole. In addition to Rubin, Larry Summers also spoke out on the subject recently.

Let's see if this becomes an issue in the presidential campaign as we move towards the first primaries.